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Compensation is not the cut-and-dry subject it used to be. Once you had to worry only about an employee's base salary or, at most, a base salary and commission. Today, you need to think in terms of compensation packages -- including salaries, stock options, employee stock ownership plans, pay-for-performance plans, bonuses, profit sharing, commissions, noncash rewards, variable pay, and much more. To recruit, retain, and motivate the best employees, you need to understand compensation and reward plans and how they relate to your company's growth.
We'll help you get a handle on everything from settling on a compensation strategy to creating a variable pay plan with this collection of checklists, benchmarks, and advice from Inc.com.
Compensation as Motivation
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The Power of Base
- A compensation expert explains how to improve your compensation strategy by developing an effective, market-driven base pay system.
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Street Smarts: The Sales Commission Dilemma
- There's a better way to reward salespeople.
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Do you have any tips for hiring and retaining good salespeople?
- Rudy Karsan helps a struggling entrepreneur figure out how to motivate salespeople.
Compensation Strategy
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The Right Way to Pay
- After decades of paying employees in the same old way, cutting-edge CEOs are solving their worst compensation problems by adding one critical factor: risk.
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Pay For Performance, And Nothing Else
- Employment relationships are transactional by nature. Today's transactions are fast moving, short-term and fully exposed, as free agents negotiate with managers for project and contract work.
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Recruiting Top Talent, One by One
- This CEO tweaked her company's compensation package over time to attract key managers.
Employee Ownership: Stock Options and More
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CEO's Notebook: Stock Options & Equity
- Tips and resources on offering stock options, sharing equity, teaching employees about their stock, and discouraging them from selling stock to start their own businesses.
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ESOPs or Stock Options: Which Will Work for Your Company?
- If you're contemplating this frequently asked question, here are some definitions, scenarios, pros and cons, and words of wisdom.
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When Employees Share Stock Pain, Not Gain
- Sure, stock options are a great recruiting tool, but are you prepared to deal with employee reaction if your company's stock price takes a dive?
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Know Your Options
- Deciding which stock option program is best for your business can be tricky. What you need to know when structuring an employee stock ownership plan.
Sizing Up Your Salaries
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Payday
- Four sites to turn to when you want to benchmark your salary structure.
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What's Fair Pay for Your CEO?
- Pondering just how much to compensate your CEO? Find out how to come up with realistic benchmarks for executive pay.
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Wage Wars
- Nicole Geller, whose company specializes in placing contract and finance professionals, offers three key rules for handling employee salary information.
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